07 Jan Houston Real Estate Milestones
- Single-family homes sales increased 27.3 percent year-over-year, accounting for the market’s 18 consecutive monthly increase;
- Total dollar volume jumped 41.2 percent, increasing form 926 million to $1.3 billion on a year-over-year basis;
- At $228,275, the single-family home average price reached the highest level for a November in Houston;
- At $167,00, the single-family home median price also reached an historic high for a November in Houston.
- 4.1 months inventory of single-family homes is the lowest level in 12 years (December 2000) and is lower than the national average of 5.4 months
- Sales of Townhouses and condominiums rose 39.6 percent year-over-year;
- Single-family home rentals rose 16.5 percent compared to November 2011 while townhouse/condominium rentals climbed 18.5%